Pentagon Awards Two Body Armor Contracts Worth $158 Million
Feb 27th 2013 10:18PM
Updated Feb 28th 2013 6:50AM
On Wednesday, the Department of Defense announced its second sizable body armor order in three days, bringing the total amount of money spent on "tactical vests" to more than $157 million (so far) this week.
Wednesday's award went to British defense contractor BAE Systems and was valued at $78.3 million. In it, the Pentagon ordered BAE to supply "improved outer tactical vests and individual repair kits" (i.e., body armor) for use by the U.S. Army and Air Force.
This followed a Monday announcement, in which the Pentagon awarded a similar "contract modification" to privately held Protective Products Enterprises, directing that company to supply $79.5 million worth of improved outer tactical vests and "components" -- again, body armor and, again, for use by the U.S. Army and Air Force.
Both contracts are expected to be completed by Feb. 27, 2014.
The article Pentagon Awards Two Body Armor Contracts Worth $158 Million originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.